The Zimbabwe Investment and Development Agency has unveiled three large-scale investment opportunities worth nearly US$200 million, targeting renewable energy generation and lithium battery manufacturing as the country seeks to strengthen energy security and increase value addition to its mineral resources.
Leading the projects is Orangerose Investments (Pvt) Ltd's proposed US$33 million Lithium Iron Phosphate battery assembly and energy storage facility in the Midlands Province.
The project, to be developed in partnership with Australia's National Power Storage, aims to establish Zimbabwe's first large-scale 2GWh battery assembly, testing and energy storage integration plant.
According to ZIDA, the facility will assemble and certify advanced lithium battery modules and energy storage systems for utility, mining, industrial and commercial use, reducing dependence on imports while positioning Zimbabwe as a regional hub for renewable energy storage solutions.
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The project is projected to generate US$315.35 million in revenue over 25 years, with an annual output of US$120 million and a payback period of just over four years.
In Masvingo Province, Camelzone Enterprises is seeking US$30 million in equity financing for a 50MW AC (60MW DC) utility-scale solar photovoltaic power plant located near the Tokwe Substation. The project has already secured a generation licence, completed a grid impact study and undertaken preliminary environmental approvals.
The solar plant is expected to generate approximately 88.9GWh of electricity annually and has plans to expand capacity to 100MW. ZIDA projects revenue of US$170.53 million over 25 years, with investors expected to benefit from a 20.37% internal rate of return and a five-year payback period. The project could also generate additional income through carbon credits.
The largest investment opportunity is the Hunde Solar Power Project in Gweru, Midlands Province, which requires US$136.38 million to develop a 100MW utility-scale solar power plant.
Beyond supplying electricity to the national grid and industrial users, the project will be integrated with a planned 3,750-stand mixed-use housing development, creating embedded electricity demand while supporting Zimbabwe's industrialisation and decarbonisation goals.
ZIDA estimates the project will generate US$317.43 million in revenue and US$199.41 million in profit over 25 years. The development is also expected to benefit from long-term power purchase agreements and potential participation in carbon markets.
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